Islamabad, June 17, 2026: The Senate Standing Committee on Finance and Revenue has completed its comprehensive review of the Finance Bill 2026-27 and the Annual Budget Statement for the fiscal year 2026-27, finalizing a set of recommendations for submission to the Senate.
The committee, chaired by Senator Saleem Mandviwala, concluded its deliberations after five consecutive sessions held at Parliament House, where members conducted a detailed clause-by-clause examination of the Finance Bill and key budgetary proposals.
The review covered amendments to major tax and revenue laws, including the Customs Act, 1969, Sales Tax Act, 1990, and Income Tax Ordinance, 2001, alongside broader fiscal, trade, industrial, revenue and economic reform measures proposed by the government.
The committee’s proceedings were attended by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, Minister of State for Finance Bilal Azhar Kayani, committee members, senior officials of the Federal Board of Revenue (FBR), representatives of relevant ministries, industry stakeholders, business organizations and sector experts.
As part of its constitutional oversight responsibilities under Article 73 of the Constitution, the committee scrutinized proposals related to taxation, customs administration, digitalization of tax systems, industrial competitiveness, export promotion, investment facilitation, economic documentation, tariff reforms and revenue generation.
During the deliberations, members emphasized the importance of policy consistency, predictability and evidence-based decision-making to strengthen investor confidence and support sustainable economic growth. The committee also stressed the need for broad stakeholder consultation in shaping fiscal policy.
The panel reviewed a wide range of proposals aimed at improving customs clearance procedures, enhancing taxpayer facilitation, strengthening digital tax administration, broadening the tax base and encouraging documentation of the economy. Measures to support exporters, promote industrial development and improve regulatory efficiency also came under discussion.
Special attention was given to reforms designed to reduce procedural bottlenecks, improve transparency, encourage investment and facilitate legitimate businesses. The committee also examined proposals concerning trade facilitation, tariff rationalization, emerging digital businesses, financial services, social sectors and public welfare initiatives.
Following extensive consultations with government institutions and stakeholders, the committee approved its recommendations on the Finance Bill 2026-27 for onward submission to the Senate.
According to the committee, the recommendations are intended to strengthen parliamentary oversight, improve fiscal governance, support economic stability and contribute to the development of a sustainable, inclusive and growth-oriented national budget for the upcoming fiscal year.
